CBOE Gold Volatility Index (^GVZ)
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in CBOE Gold Volatility Index, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
CBOE Gold Volatility Index (^GVZ) returned 54.45% year-to-date (YTD) and 47.68% over the past 12 months. Over the past 10 years, ^GVZ returned 3.55% annually, underperforming the S&P 500 benchmark at 10.43%.
^GVZ
54.45%
-4.85%
29.99%
47.68%
-1.94%
3.55%
^GSPC (Benchmark)
-3.70%
13.67%
-5.18%
9.18%
14.14%
10.43%
Monthly Returns
The table below presents the monthly returns of ^GVZ, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 8.21% | 0.00% | 12.77% | 20.63% | 4.93% | 54.45% | |||||||
| 2024 | -16.97% | -15.20% | 38.35% | 7.12% | -7.74% | -3.54% | 21.47% | -8.28% | 10.24% | 7.63% | -15.88% | -10.69% | -7.76% |
| 2023 | -3.08% | -10.03% | 22.16% | -4.85% | -5.10% | -22.97% | 1.00% | -3.13% | 9.85% | 25.43% | -12.38% | 11.46% | -2.46% |
| 2022 | 14.31% | 25.57% | -3.43% | -2.07% | -13.31% | 14.08% | -15.91% | 3.21% | 14.69% | -6.40% | -15.44% | 5.18% | 11.23% |
| 2021 | -0.72% | 2.13% | -19.02% | -14.59% | 10.29% | -0.68% | -5.51% | 2.52% | 10.92% | -6.35% | 11.95% | -18.79% | -29.73% |
| 2020 | 6.89% | 57.56% | 37.24% | -16.96% | -25.12% | 8.26% | 24.48% | -0.57% | -9.25% | 5.39% | -15.35% | 5.59% | 64.61% |
| 2019 | -20.33% | -11.36% | 4.41% | -6.24% | 10.84% | 54.79% | -17.39% | 16.96% | -0.52% | -12.88% | -20.01% | 17.93% | -6.31% |
| 2018 | 18.34% | -9.48% | -5.79% | 0.81% | -2.06% | -1.56% | 4.28% | -2.23% | -2.01% | 12.48% | -6.79% | 19.72% | 22.99% |
| 2017 | -5.91% | -6.35% | -13.22% | -6.53% | 1.90% | -6.94% | 5.55% | 14.21% | -11.24% | 0.34% | -0.17% | -7.04% | -32.47% |
| 2016 | 4.94% | 43.61% | -18.33% | 9.65% | -21.75% | 16.87% | -14.59% | 1.33% | -13.30% | 30.62% | 5.79% | -15.38% | 8.27% |
| 2015 | -2.14% | -19.03% | 2.70% | 2.57% | -16.53% | 9.65% | 9.45% | 15.19% | -9.67% | -11.91% | 9.88% | -11.35% | -25.35% |
| 2014 | -14.00% | -13.69% | 8.09% | -10.65% | -1.16% | -8.67% | 10.35% | -16.88% | 46.54% | 14.39% | 16.85% | -20.22% | -7.25% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 79, ^GVZ is among the top 21% of indices on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for CBOE Gold Volatility Index (^GVZ) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the CBOE Gold Volatility Index. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the CBOE Gold Volatility Index was 86.24%, occurring on May 29, 2019. The portfolio has not yet recovered.
The current CBOE Gold Volatility Index drawdown is 65.01%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -86.24% | Oct 13, 2008 | 2674 | May 29, 2019 | — | — | — |
| -31.15% | Jul 14, 2008 | 14 | Jul 31, 2008 | 28 | Sep 10, 2008 | 42 |
| -20.75% | Sep 19, 2008 | 4 | Sep 24, 2008 | 12 | Oct 10, 2008 | 16 |
| -5.75% | Jun 11, 2008 | 6 | Jun 18, 2008 | 2 | Jun 20, 2008 | 8 |
| -5.61% | Jul 2, 2008 | 5 | Jul 9, 2008 | 2 | Jul 11, 2008 | 7 |
Volatility
Volatility Chart
The current CBOE Gold Volatility Index volatility is 42.61%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.